R. R. Donnelley warns again of lower profit
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R.R. Donnelley & Sons Co. said its profit this year will fall further than expected and the company will cut 250 more jobs by the end of the month as demand for commercial-printing
services lags. Earnings will be $1.60 to $1.75 a share before items and restructuring charges, down from earlier estimates of $1.95 to $2.10 and the $2.11 a share it earned last year.
Actions taken this year will result in a 5% reduction in the company’s work force to 33,000, a spokeswoman said. This is the second time the Chicago-based company has reduced 2001 earnings
estimates. R.R. Donnelley shares fell $1.78 to $29.04 on the NYSE. MORE TO READ